Stockholders' Equity

3 Months Ended

Mar. 28, 2020

Equity [Abstract]

Stockholders' Equity

Accumulated other comprehensive income (loss)

The changes in accumulated other comprehensive income (loss) by component, for the three months ended March 28, 2020 are as follows:

	Foreign currency translation adjustments			Pensions, net of tax		Total
Balance as of December 31, 2019	$	(753,108	)	(12,716	)	(765,824	)
Current period other comprehensive income (loss)	(322,129		)	101		(322,028	)
Balance as of March 28, 2020	$	(1,075,237	)	(12,615	)	(1,087,852	)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended March 28, 2020 and March 30, 2019 (in thousands).

	Total Stockholders’ Equity
	Common Stock					Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock					Noncontrolling Interest			Total Stockholders’ Equity
	Shares		Amount												Shares		Amount
January 1, 2020	78,980		$	790		$	1,868,250		$	7,232,337		$	(765,824	)	(7,348	)	$	(215,712	)	$	6,607		$	8,126,448
Shares issued under employee and director stock plans	130		1			(3,288		)	—			—			2		59			—			(3,228		)
Stock-based compensation expense	—		—			5,041			—			—			—		—			—			5,041
Repurchases of common stock	(579	)	(6		)	—			(68,635		)	—			—		—			—			(68,641		)
Noncontrolling earnings	—		—			—			—			—			—		—			(49		)	(49		)
Currency translation adjustment on non-controlling interests	—		—			—			—			—			—		—			(283		)	(283		)
Currency translation adjustment	—		—			—			—			(322,129		)	—		—			—			(322,129		)
Prior pension and post-retirement benefit service cost and actuarial gain / loss	—		—			—			—			101			—		—			—			101
CECL Adoption	—		—			—			(131		)	—			—		—			—			(131		)
Net income	—		—			—			110,514			—			—		—			—			110,514
March 28, 2020	78,531		$	785		$	1,870,003		$	7,274,085		$	(1,087,852	)	(7,346	)	$	(215,653	)	$	6,275		$	7,847,643

	Total Stockholders’ Equity
	Common Stock			Additional Paid-in Capital			Retained Earnings		Accumulated Other Comprehensive Income (Loss)			Treasury Stock					Noncontrolling Interest			Total Stockholders’ Equity
	Shares	Amount										Shares		Amount
January 1, 2019	79,656	$	797	$	1,852,173		$	6,588,197	$	(791,608	)	(7,349	)	$	(215,745	)	$	6,245		$	7,440,059
Shares issued under employee and director stock plans	115	1		(4,478		)	—		—			—		29			—			(4,448		)
Stock-based compensation expense	—	—		5,789			—		—			—		—			—			5,789
Noncontrolling earnings	—	—		—			—		—			—		—			(10		)	(10		)
Currency translation adjustment on non-controlling interests	—	—		—			—		—			—		—			9			9
Currency translation adjustment	—	—		—			—		13,953			—		—			—			13,953
Prior pension and post-retirement benefit service cost and actuarial gain / loss	—	—		—			—		108			—		—			—			108
Net income	—	—		—			121,585		—			—		—			—			121,585
March 30, 2019	79,771	$	798	$	1,853,484		$	6,709,782	$	(777,547	)	(7,349	)	$	(215,716	)	$	6,244		$	7,577,045